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Alwasail Industrial Co. Announces Its Intention to Purchase a number of its own shares to allocate them within the Employee Stock Incentive Plan
9525
ALWASAIL INDUSTRIAL
-0.33
%
1445/05/07 21/11/2023 16:09:14
| Element List | Explanation |
|---|---|
| Introduction | Alwasail Industrial Co. announces the board of directors approval to purchase a number of its shares with a maximum of (500,000) shares to allocate them within the Employee Stock Incentive Plan. |
| Board Approval's Date | 2023-11-20 Corresponding to 1445-05-06 |
| Purpose of Purchase | Employee Stock Incentive Plan |
| Number of Shares to be Bought | 500000 |
| Shares Class and type | Ordinary shares |
| Method of Financing the Purchasing Process | The purchase of shares will be financed from the company's own resources |
| Approvals and Meeting the Conditions of Financial Appropriateness | The resolution will be voted on in the next extraordinary general assembly which will be announced later according to the requirements of the fourth paragraph of Article Seventeen of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies, and after satisfying solvency requirements as mentioned in the third paragraph of Article Seventeen of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies. Similarly, a report issued by the company's external auditor will be presented by the company in accordance with the requirements of this paragraph. |
| Voting Right | Purchased Shares Shall not Have Voting Rights in the General Assembly’s Meetings |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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